NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Binance Fractal That Last Sent BNB Up By 290% Flashes Again

Yashu Gola
Yashu Gola
4 years ago
2 mins read
binance, binance coin, bnbusd, bnbusdt, bnbbtc

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Binance’s native token BNB was among the few gainers on Tuesday as the rest of the high-cap cryptocurrency assets corrected lower.

binance coin, binance, bnb, cryptocurrency
Binance Coin trades inside a medium-term ascending parallel channel. Source: BNBUSD on TradingView.com
Binance Coin trades inside a medium-term ascending parallel channel. Source: BNBUSD on TradingView.com

The BNB/USD exchange rate climbed up to 13.47 percent to $40.69, a level only a few basis points below the pair’s all-time high of $43.15 from June 2019. So it seems, traders flocked into the Binance market to seek safety from XRP, a Ripple-backed token that lost more than 32 percent of its value in the last 24 hours.

It is not clear why traders opted for BNB even when other bullish tokens like Bitcoin and Ethereum were available as hedging alternatives. But from the look of it, the capital inflow into the Binance market picked momentum after the exchange’s CEO Changpeng Zhao announced that they would launch new projects in 2021.

So excited about 2021. A few big products launching next year. Projects kicked off internally already. 😎😉

— CZ 🔶 BNB (@cz_binance) December 28, 2020

Bottoming Out

The probability of BNB hitting an all-time high in the dollar-pegged market increased as the token hinted that it is bottoming out against Bitcoin.

binance coin, binance, bnb, cryptocurrency
Binance Coin tests a classic support area for a potential long-term rebound. Source: BNBBTC on TradingView.com
Binance Coin tests a classic support area for a potential long-term rebound. Source: BNBBTC on TradingView.com

The BNB/BTC exchange rate reached a classic support area, as shown in the chart above. The pair this week rebounded off the rectangular price floor, repeating the beginning of a fractal that last sent its prices soaring by almost 290 percent.

That is partially due to Bitcoin’s overbought status. The flagship cryptocurrency’s latest rally pushed its prices up from late $10,000 to as high as $24,300 this month. Meanwhile, it also raised the possibility of massive sell-offs at the hands of whales. Such a scenario often leads traders to look for hedging assets inside the crypto space, benefiting coins like BNB.

BNB/BTC weekly RSI is at 32, which places the pair in an ideal accumulation zone. Therefore, traders could increase long exposure on BNB against BTC, with Fibonacci levels in the chart above serving as potential upside targets.

BNB/USD

Meanwhile, Mr. Zhao noted that BNB could achieve similar results in the dollar-pegged markets.

“BNB’s ATH in the Dec 2017/Jan 2018 run was $24 (when BTC made $19700),” he said. “BNB had since broken that ATH in July 2019 ($39), before BTC made a comeback. It now looks like it’s going for it again.”

The weekly RSI on BNB/USD charts was above 70, reflecting its overbought status in the medium-term. That amounted to a downside correction.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

World Liberty Financial

World Liberty Financial Eyes BNB Ecosystem For USD1 Stablecoin Expansion

World Liberty Financial (WLFI), the decentralized finance (DeFi) platform backed by the Trump family, is embarking on a new venture...

Ronaldo Marquez 1 week ago

Ethereum Reclaims $2,500 In Squeeze-Driven Rally – But Can It Hold?

Ethereum (ETH) has recorded strong gains over the past two weeks, rising from $2,111 on June 12 to $2,515 on...

Ash Tiwari 2 weeks ago
Bitcoin

Bitcoin Binance Open Interest Shoots Up: Warning For BTC?

Data shows the Bitcoin Open Interest on the cryptocurrency exchange Binance has recently shot up. What could this mean for...

Keshav Verma 2 weeks ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

bitcoin

Bitcoin Uptrend Intact, But Binance Activity Warns Of Short-Term Pullback

Ash Tiwari 2 days ago
Bitcoin & Stablecoins

Bitcoin & Stablecoin Reserves Diverge On Binance: Liquidity Explosion Brewing?

Keshav Verma 3 days ago
BNB Price Gears Up for Upside Break

BNB Price Gears Up for Upside Break — Will Bulls Deliver?

Aayush Jindal 4 days ago

Premium Sponsors

Press Releases

  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    10 hours ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    11 hours ago
  • 新しい仮想通貨価格動向|話題の最新コインの成長可能性

    ...

    11 hours ago
  • アルトコイン注目銘柄|2025年7月第2週に見るべき3銘柄

    ...

    11 hours ago
  • ロビンフッドが1ドルから始めるETHとSOLのステーキングを開始──今注目の仮想通貨投資はこれだ?

    ...

    11 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.